Memory Chip Stocks Fall Broadly Early; SanDisk and Seagate Drop Over 4%
Tiger Newspress11-10 22:45
On Tuesday, memory chip-related stocks fell collectively in early trading. SanDisk Corp. and Seagate Technology PLC dropped more than 4%, while SK hynix, Micron Technology and Western Digital each fell over 3%.
Morgan Stanley said in a research note that the key concern for memory stocks is not delays in data center construction or AI demand, but rather the market's doubts about the "2028 earnings cliff" narrative — namely skepticism over memory growth momentum as supply begins to catch up with demand.
The bank cut its target price for SK Hynix's Korean shares by 38.5% to 1.6 million won from 2.6 million won.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
